If that sounds like a weird idea, think about the features of a bank account. Most users only have a single bank account, making it a tool for identity and authentication. The series of transactions in a bank account provides a data set that can be used for analyzing payment history and issuing loans, or insurance.

But there are difficulties to building a platform on top of banking. There are thousands of different banks. If you want to build an application that integrates with a user’s bank, you need to be able to integrate with any bank that the user might use–whether it’s Bank of America, Wells Fargo, or Chase.

Plaid is a company that builds APIs for users to connect to banks. Applications such as Venmo, Betterment, and Coinbase use Plaid to connect with the bank accounts of their users. Jean-Denis Greze joins the show to explain how applications use Plaid, and how Plaid has scaled its infrastructure to handle a high volume of requests. He also discusses the potential of banking as a platform, and the strategy for expanding the APIs that Plaid can offer to developers.

Fintech Daily is a new podcast from Software Engineering Daily covering payments, cryptocurrencies, trading, and the intersection of finance and technology. We are looking for volunteer hosts for Fintech Daily, and if you are interested in working with us to conduct interviews, send an email to host@fintechdaily.co. You can find the podcast on iTunes, Google, and everywhere else, and if you are interested in hosting, don’t hesitate to reach out.

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